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Alix Co. Lacks Standing In ANR Ch. 11 Fight With McKinsey

Law360 (May 17, 2019, 8:00 PM EDT) -- A Virginia bankruptcy judge ruled Friday a company owned by restructuring adviser Jay Alix can't continue to take part in the Alpha Natural Resources bankruptcy it fought to reopen to investigate alleged conflicts of interest by rival consultant McKinsey & Co.

In his opinion, U.S. Bankruptcy Judge Kevin Huennekens said Mar-Bow Value Partner LLC's financial stake in any judgment against McKinsey was too hypothetical to give the company an interest in the outcome and that Mar-Bow's claims that public confidence in the courts was damaged due to McKinsey's alleged lies about its business connections when it was retained by ANR are...

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